Independence Farm Inc 010192

Analysis

Independence Farm Inc 010192 is a registered charity in United States, based in Corsicana, TX. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Independence Farm Inc 010192 reported income of $424k and spending of $503k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $401k to $424k (+5.7%), an average of +1.4% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Independence Farm Inc 010192 sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within TX. Charities of a similar size with the same main cause include Simply the Basics ($424k), City of Refuge - Chicago ($424k) and Hope 4 Kids Incorporated ($424k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $156k (31% of expenses). Other salaries and wages came to $144k. At year end it held assets of $57k against liabilities of $15k, net assets of $43k. It reported 12 employees.